Over the
past weekend, prop firm E8 Markets fell victim to a DDoS attack, leaving
traders unable to access their accounts for 48 hours. Although the
website and platform functionality had been restored at the time of reporting,
some users still reported access issues even after the markets reopened Today
(Monday).
E8 Markets Targeted in
DDoS Attack
On
Saturday, prop
firm E8 Markets announced that it had been “experiencing a DDoS
attack” since Friday. The team was actively working on resolving the issue
and securing both the website and platform against “further threats.”
Despite
these efforts, the E8 Markets website remained inaccessible on Saturday, with
the firm stating that clients would be notified once everything was back to
normal.
Important announcement! 🚨We’ve been experiencing a DDOS attack since yesterday, and our team is actively working on mitigation and securing against any further threats.At the moment, our website is down, but we’re on it. We’ll update you as soon as everything is back to…
— E8 Markets (@E8Markets) February 22, 2025
In a
separate update, the company assured users that, as a “response to the
recent DDoS attack,” E8 Markets was “conducting extra security audits
to ensure that no irregularities have occurred.”
“While
our initial assessments show no signs of any issues beyond the attack itself,
we are performing more extensive audits to guarantee 100% system integrity and
security before bringing the dashboard back online,” the company added.
Update 📢 As part of our response to the recent DDOS attack, we are conducting extra security audits to ensure that no irregularities have occurred.While our initial assessments show no signs of any issues beyond the attack itself, we are performing more extensive audits to…
— E8 Markets (@E8Markets) February 22, 2025
However, as
of February 22, no further updates had been posted on E8 Markets’ X (formerly
Twitter) account regarding the situation. Clients reported that access to the
website and platform was still unavailable not only on Sunday but also at the
start of Monday’s session, when Forex and other financial markets were already
active.
“This
is so frustrating. The frickin’ markets are open… anybody with open trades has
no choice but to watch their PnLs with no hands on the wheel,” commented a
user named Josh Robinson at 12:23 AM CET.
What Are DDoS Attacks?
A Distributed
Denial-of-Service (DDoS) attack occurs when an attacker floods a target
system—usually a website or online service—with an overwhelming number of
requests or data packets. These requests come from numerous devices that have
been hijacked, often without their owners’ knowledge.
As these
compromised devices collectively bombard the target, the system’s resources are
used up quickly, making it difficult or impossible for legitimate users to
access the service.
Attackers
launch DDoS campaigns for various reasons, such as disrupting the operations of
a rival business, extorting money from an organization by threatening prolonged
downtime, or simply causing chaos to gain attention. Because multiple machines
are involved in a coordinated assault, it can be challenging to block all
malicious traffic or trace it back to a single origin.
Organizations
defend themselves by using tools that identify and filter out suspicious
traffic, and by spreading their systems across several servers so that no
single resource becomes overwhelmed.
Another DDoS Attack in the
Prop Trading Industry
The DDoS
attack on E8 Markets is not the first incident in the industry in recent
months. Finance Magnates recently reported that another popular prop
trading firm, Funding
Pips, also fell victim to a similar attack.
A few
months prior, TradeLocker, a platform widely used by prop traders, particularly
in the futures market, was
also targeted. Although the platform was only down for an hour, the
disruption caused significant confusion among clients of multiple prop firms.
This article was written by Damian Chmiel at www.financemagnates.com.
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